"As your president, I will never allow the creation of a Central Bank Digital Currency."
In campaign speech remarks prepared for his Portsmouth, New Hampshire appearance on Wednesday, President Donald Trump vows to never allow the Fed to create a Central Digital Bank Currency.
In the speech, obtained by The Post Millennial, Trump emphasizes the dangers of debanking and political weaponization that accompany such an undertaking.
“As your president, I will never allow the creation of a Central Bank Digital Currency. Such a currency would give the federal government absolute control over your money.
“This would be a dangerous threat to freedom – and I will stop it from coming to America. We are also going to put in place strong protections to stop banks and regulators from trying to debanks you for your political beliefs. That will never happen while I am your president.”
You can watch the entire speech, as it happens, here:
Central Bank Digital Currency has been hotly debated in recent years with critics saying that it would centralize the dollar and could be used to control Americans through their digital wallets.
Global central banks, including the Bank of Canada, have been engaged in discussions about the potential implementation of digital currencies. As the use of physical cash diminishes in favor of electronic and online payment systems, Canada has actively participated in this dialogue.
Two years ago, the Bank of Canada collaborated with the European Central Bank, the Bank of Japan, the Bank of England, the Swedish Riskbank, and the Swiss National Bank in a study group dedicated to exploring digital currencies. The insights gained from this collaboration are now becoming evident domestically, as the Bank of Canada has unveiled a list of various "archetypes" of CBDC systems, commonly referred to as central bank digital currencies.
Global central banks, including the Bank of Canada, have been engaged in discussions about the potential implementation of digital currencies.
Two years ago, the Bank of Canada collaborated with the European Central Bank, the Bank of Japan, the Bank of England, the Swedish Riskbank, and the Swiss National Bank in a study group dedicated to exploring digital currencies.
This is a breaking story and will be updated.
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